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Social Security exclusion of benefits question
I've taken SS benefits for all of 2024 and I am still working. I figure my wages for this year will be high enough to have the SS benefits be taxed at near the highest level (something like 85% of the benefits?).
I'm using the Turbo Taxes' Tax Calculator to see if the withholding that I'm extrapolating for 2024 is enough to avoid writing a check to the IRS against the total of wages and SS benefits as Taxable Income.
So, my question: Is any part of the SS benefits paid to me excluded as not taxable? I seem to think the figure is the first $12K is excluded.
Thanks.
‎June 26, 2024
12:57 PM